LONDON Feb 28 Britain's biggest pet shop group
Pets at Home has set its share offer price at 210-260
pence, giving an implied market capitalisation of 1.05-1.30
billion pounds ($1.75-$2.17 billion) when it lists on the London
The firm, mainly owned by U.S. private equity group KKR
, said on Friday between 25 percent and 40 percent of its
issued share capital would be freely tradable post flotation.
Pets at Home is looking to raise about 280 million pounds
from the sale of new shares, which will include an offer to
retail investors, to pay down debt.
KKR, which bought the retailer from Bridgepoint four years
ago for 995 million pounds, other shareholders and members of
the management team may also realise part of their investment in
the firm via the repayment of shareholder loans and a sale of
Pets at Home expects a minimum of 85 percent of the share
offer to be allocated to institutional investors, with the
balance allocated to retail investors and staff.
The firm expects to announce pricing and allocations and
start dealings on the LSE on March 18.
Pets at Home's listing is one of many expected in Britain's
retail sector in 2014 on the back of the country's gradually
Convenience store McColl's and online domestic appliances
firm AO World have already listed, while discount
retailer Poundland has announced an intention to float.
Fat Face, B&M and House of Fraser are amongst other store
groups expected to come to market this year.